Eagle Mountain Mining Limited provided an update on its 100% owned Oracle Ridge Copper Mine Project (Oracle Ridge, or the Project) in Arizona, USA. Eagle Mountain commenced underground drilling in mid-January following the completion of the initial refurbishment of the underground mine. Boart Longyear LLC (Boart) has been appointed as the drilling contractor based on its reputation and the strong business relationship developed with the Company over the last 24 months of drilling at the Project.

Thirteen drill stations have been established to allow resource upgrade and metallurgical drilling to occur from within the mine. Drilling from underground is expected to be far more efficient than drilling from surface due to shorter hole lengths and less impact from weather events. The first drill station plans to have 17 holes drilled from this area.

Underground drilling will prioritize the upgrading of existing Indicated and Inferred Resources into Measured and Indicated Resources respectively, with a focus on those areas of the deposit expected to be mined in the first five years of potential production. The additional confidence achieved will assist in technical and economic studies. The surface rig is currently on hold until access for further targets is established or the permit for the OREX target is received.

An underground wall sampling program has also recently commenced which will target the large exposure of copper mineralization in the underground workings to generate high-quality underground geological maps and semi-continuous samples across the exposed mineralization. The program is expected to take several months to complete, and the results will be used to better understand small scale grade variability, assess the representatively of the existing Mineral Resource Estimate and identify suitable areas for additional metallurgical work such as bulk sampling.